Answer:
d. $22.75
Explanation:
We know that
Contribution margin per unit = Selling price per unit - Variable expense per unit
where,
Selling price per unit is $35
And, the contribution margin is 35%
So, the Contribution margin per unit would be
= Selling price per unit × contribution margin
= $35 × 35%
= $12.25
Now after finding out the contribution margin per unit, the variable cost per unit would be
= $35 - $12.25
= $22.75
And, the direct material and labor cost is a variable cost
Answer:
B. units started this period in this process
Explanation:
The equivalent units is the metric to account cost for the period cost.
With stared during the period, the formula will be:
Started during the period - incomplete ending + incomplete beginning
Because the materials are added entirely at the beginning, the beginning WIP has all the materials already added. Those unit do not recieve any material therefore, none are incomplete.
Also, the ending is complete as well, so there is no incomplete portion
leaving the formula with:
started during the period - 0 + 0 = started during the period
If the monthly accounting period ends on Tuesday and the employees worked on both Monday and Tuesday, the month-end adjusting entry to record the salaries earned but unpaid is $840.
For two employees and for two days, the adjustment made was 4 times their per day income.
Total month end adjusting entry will be 2×2×$210 = $840
What is Accounting Period?
- A set period of time, such as a calendar year or fiscal year, is referred to as an accounting period in which income balance of whole month is calculated.
- It is used for performing, aggregating, and analyzing accounting operations.
- The accounting period is helpful for investing because prospective investors can assess a company's success by looking at its financial statements, which are based on a set accounting period.
<h3>What is
Month-End Adjusting Entry?</h3>
- Month-End Adjusting Entry is a record created at the conclusion of an accounting period that allows an income or expense to be recognized in the timeframe in which it is incurred.
- Accruals, deferrals, and estimations are the three forms of Month-End Adjusting Entry that are most frequently used.
<h3>What is Fiscal Year?</h3>
- Companies and governments utilize fiscal years, which are one-year periods, for financial reporting and planning.
- The most typical accounting period utilized to create financial statements is a fiscal year.
- A company's fiscal year is based on 3 determining parameters namely financial reports, external audits, and federal tax filings.
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Yes. The U.S. tax system has a built-in stabilizers.
These built-in stabilizers are called automatic stabilizers. Automatic stabilizers are defined as the features of tax and transfer system that lends stability of the economy without direct intervention from the policy makers.
These stabilizers tempers the economy when it overheats and provides economic stimulus when it slumps.
When: Automatic Stabilizers:
Incomes are high <span>tax liabilities rise and eligibility for government benefits falls
Incomes are low </span><span>tax liabilities drop and more families become eligible for government transfer programs (food stamps, unemployment insurance)</span>
